Business Loan from Bangor Savings Bank Given to Drywall And Insulation Contractors Company

Bangor Savings Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Maine entrepreneur was able to get a loan to take a small business to the next level.

This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Bangor Savings Bank, out of Bangor, Maine. The loan was granted and they received $71,000 to help grow their Rockland, Maine business.

SBA Loan Borrower

COMPANY TYPE: DRYWALL AND INSULATION CONTRACTORS
ROCKLAND, ME 04841

SBA Loan Lender

BANGOR SAVINGS BANK
99 FRANKLIN ST
BANGOR, ME 04401

This loan for a small business was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

238310 - Drywall and Insulation Contractors

Loan Approval Date

12/20/2006

Loan Approval Gross Amount

$71,000

Loan Approval from the SBA

Of the total $71,000 loan amount, the SBA guaranteed $35,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 2 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Bangor Savings Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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